Ixigo IPO - Buy/Sell Ixigo Pre IPO Shares | Ixigo Upcoming IPO Detail

Ixigo Le Travenues Technology

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No

Available in Depository:
NSDL
CDSL

Available for Investment:
Primary
Secondary

RATING

RECOMMENDATION

Neutral

Business Type

Emerging Leader

Investment Checklist

Management

Accounting Practice

Profitability

Solvency

Growth

Valuation

RATING

RECOMMENDATION

Neutral

Business Type

Emerging Leader

Ixigo Unlisted Shares Essentials
Share

Here in this research report, you will get:
- Ixigo IPO Review and Analysis
- Ixigo IPO Details

- Ixigo Upcoming IPO Details
- Expected Ixigo IPO Date
- Expected Price Band
- Management Details (Ownership)
- Business Model
- Key Ratios
- Peer Comparisons
- Financial reports (Profit and Loss Statements, Balance Sheets, Results, Growth, Valuations, Funding Rounds)

- Latest News (Articles and Videos)
- Upcoming and Past Events Details
- Rating and recommendations for the Company's shares (Whether to Buy/Sell/Hold)

- Ixigo Share Price (Latest in Pre IPO Market)

Complete analysis of Ixigo (Le Travenues Technology Pvt. Ltd.)

ISIN

INE0HV901016

Face Value

₹1.00

Total Share

36,97,47,200

Total Income

₹384.94 Cr

Profit After Tax

-₹21.09 Cr

Promoter Holding

17.00 %

EPS

-₹0.66

P/E

-150.00

P/B

19.55

Market Capitalisation

₹3,660.50 Cr

Enterprise Value

₹3,560.30 Cr

Book Value

₹5.06

Intrinsic Value

₹112.35

Earnings Yield

-0.67 %

Sector

Consumer Discretionary

Sub-sector

Tour & Travel Services

Ixigo Growth

About Ixigo

Ixigo (Le Travenues Technology Pvt. Ltd.) is a technology company focused on empowering Indian travelers to plan, book and manage their trips across rail, air, buses and hotels.
They assist travelers in making smarter travel decisions by leveraging artificial intelligence, machine learning and data science led innovations on their OTA platforms, comprising their websites and mobile applications.
They aggregates and compares real-time travel information, prices and availability for flights, trains, buses, and hotels, and allows ticket booking through its associate websites and apps.It was started by Rajnish Kumar and Aloke Bajpai in June 2007, with the launch of their flights meta-search website.
In 2008, it introduced a hotel search engine on its website.In early 2014 it launched trains app.

Ixigo IPO Details

The Equity Shares offered through the Red Herring Prospectus are proposed to be listed on the Stock Exchanges. The company have received in-principle approvals from BSE and NSE for the listing of the Equity Shares pursuant to letters. The Company proposes to make an IPO which comprises of fresh issue of its equity shares of Re. 1 each and offer for sale by certain shareholders’ existing equity shares of Re 1 each at such premium arrived at by the book building process (referred to as the ‘Issue’), as may be decided by the Company’s Board of Directors.

Ixigo recently filed draft papers for an initial public offering (IPO) in August 2021. It is going to list on NSE and BSE, The Ixigo Upcoming IPO has been delayed due to the conflict between Russia and Ukraine, According to experts, the Ixigo IPO date would be announced soon in 2022. The Price Band for Ixigo IPO ranges between is currently Not Available. As far as the face value of the share is of concern, It is Re 1 per share.

Ixigo
Offer for Sale

₹ 850.00 Cr

Ixigo
Fresh Issue

₹ 750.00 Cr

Ixigo
Total IPO Size

₹ 1600.00 Cr

Ixigo Funding

Funded By	Funding Amount	Date of Investment	Funding Round
GIC	$ 36500000	16 Jul 2021	Series C
Sequoia Capital India, Fosun RZ Capital	$ 15000000	22 Mar 2017	Series B
Sequoia Capital India	$ 10000000	29 Nov 2016	Venture
Micromax	$ 4000000	23 Jun 2015	Funding
SAIF Partners, MakeMyTrip	$ 6000000	11 Aug 2011	Series A
BAF Spectrum	$ 500000	01 Feb 2008	Seed Round

Ixigo Merger & Acquisition

Acquisition

Abhibus acquired by ixigo on 5 August 2021. The deal will help Ixigo group to consolidate its presence in tier 2, 3 and 4 markets by offering a multi-modal transportation experience across trains, flights and buses to its combined user base of nearly 25.5 crore users.
Confirmtkt acquired by ixigo on 4 February 2021.The founders of Ixigo will join the Confirmtkt board and existing investors, including Venture Catalysts, will be exiting the company fully as a part of the deal. Both companies will continue to run independently after acquisition. Both Ixigo and Confirmtkt are official IRCTC B2C premium ticketing partners for online train reservations in India. This deal will help the group to consolidate its presence in Tier 3-4 markets with its combined user base of nearly 200 million Indians.
Reach App acquired by ixigo on 11 January 2017. This acquisition will help to enhance ixigo's already existing products by providing travelers not just utility but consumable content and entertainment in the travel space.

Investments

Ixigo invested around 3.4Mn in inter-city mobility company GOGO Mobility Private Limited (gogoBus) With this investment, Ixigo has entered the bus booking segment. Earlier, it had flight, trains, and hotels bookings. For gogoBus, this provides access to a ready user base.
Company has investments around 21.51 Mn in Mutual funds of (Axis Liquid Fund direct growth plan).

Ixigo Subsidiaries

Le Travenues Technology Limited Subsidiaries:

Ixigo
Confirmtkt
Travenues Innovations Private Limited

Ixigo Business Model

The group is engaged in the business of running an online platforms named www.ixigo.com and www.confirmtkt.com and ixigo / confirm ticket mobile applications for providing information and booking services for the travel industry across airlines, trains, hotels, buses and cabs in real-time. The Group also provides software development and maintenance services to its customer.

Ixigo- Business Model

Ixigo Revenue Segmentation

Revenue generated from advertisement referral
Revenue generated from advertisement

Revenue generated from ticketing
Revenue generated from technical and other support fees

Other Revenue

Ixigo Product & Services

Services:

The company provides information and booking services for the travel industry across airlines, trains, hotels, buses and cabs in real-time. They also provides software development and maintenance services to its customer.

Ixigo Assets

Assets as on 31 March 2022

Tangible Assets:

Assets	Amount in Cr.
Computers	Rs 1.48
Office Equipment's	Rs 0.11
Furniture and fixtures	Rs 0.02

Intangible Assets:

Assets	Amount in Cr.
Goodwill	Rs 254.13
Software	Rs 21.93
Trademark	Rs 0.09
Non-compete	Rs 8.25

Ixigo Industry Overview

Industry Statistics

Online Travel Agency (OTA) is a web-based marketplace that allows consumers to research and book travel products and services, including hotels, flights, cars, tours, cruises, activities, and more, directly with travel suppliers. Every day, millions of travelers around the world use OTAs to plan leisure and business travel.
The Indian OTA industry increased from a gross booking revenue of ₹ 284 billion in 2015 to ₹ 978 billion in Fiscal 2020, registering an impressive CAGR of 28% during the same period. COVID slumped the growth in Fiscal 2021, especially on account of the slow revival of international passenger traffic as well as a decrease in the market size of the hotel industry.
However, the OTA industry is expected to bounce back due to pent-up demand and accelerate especially in rail and bus segments, reaching ₹ 1,782 billion in the year 2024, with a CAGR of 16% for the forecast period. The growth of the OTA market is expected to be even faster than the overall online market.

Segmentation Within the Overall Indian OTA Industry:

Airlines: Airlines have lost their dominance in terms of revenue contribution in the ticketing segment for OTAs. In Fiscal 2020, for the OTA industry, as represented by the top 3 listed players, airlines contributed less net revenues than hospitality. Though still accounting for over 65% of gross booking values, and increasing in volume of transactions, the declining margins to just 8% are reducing the overall contribution of this segment in revenue share. As a result, OTAs have been shifting focus to other higher-margin segments like hospitality and bus modes.
Hotel: The share of hospitality in the OTA industry is increasing both in terms of value and volume. Hotel bookings contributed 44% of all net revenues in Fiscal 2020. It is the next frontier of competition for all OTAs in India as it's one of the two fastest growing online travel segments with a CAGR in the forecast period of over 20%.
Rail: The volume of railway ticket booking through OTAs however has been rising significantly as their penetration into tier-II & III cities increases. Most OTAs are entering the Rail segment to extend their product offering to a full stack and explore the untapped potential of this segment.
Bus: The Bus segment is highly underpenetrated by OTAs and represents an increasing segment in terms of volume. The bus is the fastest growing online travel segment, with a forecasted CAGR for 2021-24 more than 25%.

Growth Drivers:

For users to conveniently utilize apps and book tickets online, telecommunications firms are extending 4G services in rural areas with greater connectivity and speed.
Online payments have become reliable and convenient as a result of the exponential rise of UPI and other digital payment methods.
Due to increased discounts from the OTAs themselves as well as deals via partnerships with other banking and payment methods, OTAs can offer competitive pricing.

Peers:

Peers of the company include Make my trip, Yatra, Ease my trip, etc.

Future Prospects

The overall travel market in India has strong industry fundamentals and is expected to grow 7% till 2025. The prospects of online travel growth are even stronger at 12% in the next 5 years given the internet and smartphone penetration, exponential growth in digital payment, shifting traveler demographics and nature of the evolving Indian traveler.
The OTA industry is expected to ride the wave of digitization of Indian travel, and is expected to grow at 15% for the next four years, double that of the economic growth of the country. This growth will be led by OTA growth in hospitality and buses segments which have a projected CAGR forecasted at over 20-25% until 2024. Volume growth is expected from railways as OTAs tap the huge unreserved segment of the rail sector.

Government Initiatives

Under the UDAN scheme for airlines, in the last 5 years, almost 35 airports have become functional. The National Rail Plan 2030 announced an increase in railway tracks and the introduction of some new AC chair car trains. However, the budgetary outlay and progress by the Ministry of Road and Transport to construct 65,000 kms of national highways has been substantial.
Swadesh Darshan: This scheme was launched by the government to promote the development of theme-based circuits, such as the Himalayan Circuit, Coastal Circuit, and Buddhist Circuit. ₹ 60,357 mn has been sanctioned under this scheme for 77 projects.
The Pilgrimage Rejuvenation and Spiritual Augmentation Drive (PRASHAD): was introduced to focus on developing pilgrimage destinations. For this purpose, 58 destinations have been identified in all states.

Ixigo Awards & Achievements

Calendar year	Awards and accreditations
2010	Recognised for outstanding work in the Emerge 50 Start-up Category by NASSCOM Awarded the ‘Entrepreneurial Excellence Award 2010’ by TIE Delhi - Lumis Partners
2013	Awarded the ‘Best Mobile Application/Content: Travel’ at MOBBY’s Awards for Excellence in Mobile Entertainment and Technology Recognised among the ‘Top 15 Awesome Startup Workplaces in India’ by Yourstory.in Awarded ‘Travel Site of the Year’ by WATAwards for our website, www.ixigo.com
2014	Awarded ‘Animation Silver’ for Content Marketing Strategy at the DMAI Awards Awarded under the Best App developed/Product/Services/Corporate/Films/TV Shows category at the Indian Digital Media Awards 2014 for ‘ixigo PNR status’ Received certificate of recognition for creating an intuitive automated application for updates on train and flight status, for ‘ixigo PNR status’, at the mBilionth Award South Asia
2015	Received certificate of recognition for being a mobile based comprehensive travel application that provides all the information that a traveller needs to plan a trip at the mBillionth Awards South Asia Awarded the ‘Social, CRM & Loyalty: Social’ for Travel Hacks – Viral Marketing Campaign for our website, www.ixigo.com at the Marketing Innovation Awards by DMAI
2017	Awarded People’s Choice Runner-up award for ‘Travel Innovation’ under the Launch Competition by Phocuswright Innovation Received certificate of recognition for being featured as one of the ‘Top 100 Startups to Watch in 2017’ by SutraHR
2018	Awarded the ‘Best UI/UX App’ at the India App Summit Awards
2019	Awarded the ‘Travel and Tourism Business of the Year’ at the Small Business Awards Awarded the ‘Best Small Budget Marketing Campaign’ at the ET Brand Equity Shark Awards for the campaign ‘Hotel Etiquette - Stuff you can take from hotels’
2020	Featured in the ‘Economic Times - India’s Growth Champions 2020’ Awarded the ‘New Code of Work Awards’ for Mid-Size Enterprise by Wheebox and PeopleStrong
2021	Awarded the ‘New Code of Work Awards’ for Small Enterprise by Wheebox and PeopleStrong Awarded ‘Silver Digital Content Award’ for the In-house Content Campaign at the 11th India Digital Awards, presented by IAMAI

Ixigo Strengths

Company has generated total revenue of INR 385Cr. and shown 178% y-o-year growth in FY22.
Company is in the phase of expansion and till know has acquired 3 companies, to increase the customer base and penetration across tire 2 cities
Monthly active users of the company are around 3.8Cr which is the highest among private peers.
Gross Transaction Value (GTV) per employee is one of the measures to know the revenue contribution of employees, ixigo exhibited the highest GTV per employee ratio of ₹ 125 mn. This is on account of their significant GTV growth of the year as well as the lowest employee strength by far in the industry. In FY22 the total GTV increased 160.69% over the year which was from Rs. 2153 Cr. in FY21 to Rs. 5614 Cr.

Ixigo Shortcomings

The company's advertising expenses increased by more than 550% in FY22 compared to FY21,but the revenue of the company hasn't grown at that level, which had an influence on the company's finances and caused it to become a loss maker. This shows the inefficiency of management.

Ixigo Opportunities

Every day, millions of travelers around the world use OTAs to plan leisure and business travel. So company has good opportunity to grow in coming years.
The number of people accessing the internet daily has grown by 30 Mn from March 2019 to March 2020 in rural parts of India while the number of mobile connections in India increased by 23 Mn at a rate of 2.1% between January 2020 and January 2021. By 2021, internet penetration taken up by mobile subscribers was 96.71%.So it will help to generate the user base from tire-2 cities.

Ixigo Threats

The biggest challenge for the company is to tide over the muted demand of the current COVID pandemic in the most creative ways by focusing on high growth segments. In the fourth quarter of Fiscal 2021, rail had recovered to 46%, air to 71% and bus to 40% of their pre COVID-19 volumes of the fourth quarter of Fiscal 2020. Though full recovery is expected in the next six months, pace of recovery will differ across sectors.
Increasing market share in relatively higher margin segments remains a challenge for company as both larger chain hotels and direct airlines focus on reaching their customers directly.
Increasing competition from international OTAs in the hospitality sector.

Ixigo Rating

RECOMMENDATION

Neutral

Ixigo Detail Info

Industry Statistics

PRIVATE LIMITED

Registered In

India

last Updated

23/06/2022

Registered Date

03/06/2006

Planify Ticker

ixigo

Reg Office: Second Floor, Veritas Building, Sector - 53, Golf Course Road, Gurugram - 122 002, Haryana, India.

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Frequently Ask Questions

The total IPO size of the company is 1600 Cr.in which Rs.850 Cr. Is offer for sale and Rs.750Cr. is fresh issue.

The face value of the company is Rs 1

Yes, we can expect good profit in the future.

Investment firms like Sequoia Capital, White Oak Capital Management hold major shareholding in the company.

Aloke bajpai is the owner of the company.

Gross Transaction Value (GTV) per employee is one of the measures to know the revenue contribution of employees,I xigo exhibited the highest GTV per employee ratio of ₹ 125 mn. This is on account of their significant GTV growth of the year as well as the lowest employee strength by far in the industry.

The minimum holding period after the company has been listed is 6 months

In FY21 company has generated a profit of Rs. 8Cr.

Please find below the procedure for buying stock_name_auto Unlisted Shares at Planify.

• 1. You confirm booking of stock_name_auto Unlisted Shares with us at a trading price.

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• 3. We will provide the bank details.

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• 1. Venture Capital Funds or Alternate Investment Fund of Category -I or II, or Foreign Venture Capital Investor - lock-in Period of 6 months from the date of acquisition of stock_name_auto Unlisted Shares.

• 2. Other Investors (include Retail, HNIs or Body Corporate) lock-in Period of 6 months from the date of listing of IPO of stock_name_auto Unlisted Shares.

This new SEBI rule was introduced in the month of August-2021, wherein the SEBI has reduced the lock-in period previously from 1 year to 6 months to encourage more and more funds to be invested in startups which are going to public or IPO in near future. Reduction of lock-in is seen as big step and after that many PMS funds are advising their clients to invest in Pre-IPO shares to get the benefit of early stage investment.

DIS - Delivery Instruction Slip is the way through which an investor can sell or transfer the stock_name_auto Unlisted Shares from his/her demat account to any other demat account. There are two Types of DIS Slip.

1. Offline-DIS - This is an offline mode of transfer of shares wherein the investors needs to fill DIS form and give it to their broker for transferring the shares. Following are the fields which are required to be filled.

• a. ISIN number of stock_name_auto Unlisted Shares.

• b. Name of stock_name_auto Unlisted Shares

• c. Quantity of stock_name_auto Unlisted Shares

• d. Cosideration Amount

• e. Target DP ID and Client ID

• f. Annexure

2. Online DIS - Some of the broker these days gives facility of transferring the stock_name_auto Unlisted Shares via online DIS. So, please check with your broker whether such facility is available or not. For example: Angel Broking proivdes the facility of Online-DIS from its platform. As an investor he/she simply needs to add a beneficiary into it and send the stock_name_auto Unlisted Shares by filling the details similar to Ofline-DIS.

In the last 4-5 years, the unlisted share market has become quite big and as a result of that, the ticket size has reduced from usual 5-10 Lac to 35-50k in today's scenario. Generally via our Planify platform, if somebody wants to buy Unlisted Shares then minimum investment would be 35-50k.To know about the minimum lot size of stock_name_auto, kindly click on this hyperlink - stock_name_auto.

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• By carefully examining the number format of Demat Account we can easily identify whether the stock broker is registered with CDSL or NSDL.

• Demat Account = DP ID + Client ID. (16 Characters )

• "DP ID is the unique identification of the Broker. Every broker gets a unique number from CDSL or NSDL.By carefully examining the number format of Demat Account we can easily identify whether the stock broker is registered with CDSL or NSDL.

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• In CDSL, all these characters are numbers (1234567891234567) first 8 digits are DP ID and next 8 digits are Client Id whereas in NSDL the first two characters are letters which are in accordance with the country that you are from (IN12345678912345), then 6 unique digits for Broker and next 8 digits are client ID.

• Example:

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• Check in brokers application?

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If you see the thesis of investment in the unlisted shares then it is being done mainly to take the advantage of IPO market. And, if the IPO plans of company get delayed due to market conditions or any other reason then demand suddenly drops in the market. The unlisted market works mainly on demand and supply and if there is no IPO news then getting exit would be difficult.

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We at Planify do the valuation based on 2 methods.

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• 2. If there is no funding happened in the company, then we try to find a business similar to stock_name_auto Unlisted Shares in the listed space and do comparison method to ascertain the valuation.

As an investor in the unlisted space, we would always recommend that you must check all the risk parameter carefully before investing in the unlisted space.

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Fundamental & Comparative valuation models and the forces of demand and supply in the market for unlisted shares dictate the price. These prices are based on our estimates and transaction history of stock_name_auto Ltd unlisted share.

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The financials of stock_name_auto Ltd which includes the P/L of stock_name_auto Ltd and the Balance Sheet of stock_name_auto Ltd is in the financials section.

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